Ethics and the supply of status goods
Journal of Business Ethics · 1985 · Volume 4 · Issue 6
Abstract
Conspicuous consumption was first identified and discussed by Thorstein Veblen in his classic text on The Theory of the Leisure Class published in 1899. Since that time, business organisations have encouraged and exploited the demand for status goods and today the supply of products which serve as social symbols is highly organised and profitable. This paper looks at the ways in which manufacturers, advertisers and retailers have combined to promote status-seeking as an acceptable form of consumer behaviour and at how the market for status goods has been expanded by corporate strategies geared to securing rapid rates of social obsolescence in the conspicuous goods and services on offer. The ethical arguments for and against such business activity are then examined in detail.
Keywords
Economic Growth, Status Good, Consumer Behaviour, Business Activity, Rapid Rate
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